IOTA & Eviden Launch Digital Passport Solution
The IOTA Foundation, known for its open-source distributed ledger technology (DLT) tailored for Web3 applications and digital economies, has partnered with Eviden, an Atos Group company renowned for driving data-driven digital transformation across various industries.
The collaboration introduces the Eviden Digital Passport Solution (EDPS), powered by IOTA technology. The solution is one of the first ready-to-use DLT-based Digital Passport solutions available in the market, aiming to track the life cycle, carbon footprint and sustainability of automotive batteries.
“This collaboration leverages our unique joint benefits and creates a strong combination of capabilities, ready for the market to use. We will work closely with Eviden to explore further use cases, ensuring long-term success and sustainability,” says Dominik Schiener, Co-Founder and Chair of the IOTA Foundation, emphasising the strategic importance of this partnership.
A pioneering digital passport solution
The solution offers a comprehensive overview of a product's life cycle, from production to disposal.
By capturing detailed information about the origin, materials, manufacturing process, usage, repairs and end-of-life recycling, the EDPS enhances transparency and traceability, ensuring that all necessary data is recorded and accessible.
- Informed Decision-Making: By promoting the use of sustainable and reliable products, the EDPS enables stakeholders to make well-informed decisions.
- Life Cycle Tracking: Utilising DLT, the solution tracks the entire product life cycle, ensuring efficient management, cost efficiency, traceability, and a circular supply chain.
- Data Utilisation: The EDPS leverages data generated throughout the product's life cycle to develop additional use cases.
- Compliance with EU Regulations: The EDPS ensures adherence to various EU regulations, including the EU Battery Regulation, Ecodesign for Sustainable Products Regulation, EU Corporate Sustainability Due Diligence Directive.
Environmental compliance and promoting circularity
One of the key benefits of the EDPS is its ability to help manufacturers and businesses meet stringent environmental standards and EU requirements. It includes compliance with regulations concerning the sustainability, safety and disposal of batteries.
By simplifying regulatory compliance at the product level and encouraging continuous reuse and repurposing, DPPs facilitate a more circular economy. It not only promotes a more localised, diverse and resilient supply chain but provides valuable insights into a product’s durability and performance.
- Secure Transaction Recording: IOTA ensures secure, transparent, and immutable transaction recording, which is critical for tracking the life cycle of automotive batteries.
- Seamless Smart Contract Integration: IOTA EVM facilitates the integration of smart contracts, enhancing the functionality of the EDPS.
- Scalability and Efficiency: IOTA’s Tangle technology is well-suited for managing large data volumes and high transaction rates.
- Enhanced Security: IOTA prevents data tampering and cyber attacks, ensuring robust data integrity.
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